1)In traditional costing systems, overhead segmented into major categories and is allocated based on several cost drivers

True or False

2)If the management accountant does a better job of projecting cost, then management is able to make better decisions

True or False

3)As long as we are in the relevant range variable costs will remain constant in total.

True or False

4)Current trends in many organizations a higher degree of overhead/ indirect spending and a need for management accountants to properly assign these costs

True or False

5)To achieve accurate costing, a high degree of correlation must exist between the cost driver and the actual consumption of the activity cost pool

True or False

6)The CVP income statement classifies costs as variable or fixed and computes a contribution margin.

True or False

7)In CVP analysis, cost includes manufacturing costs but not selling and administrative expenses.

True or False